Bitcoin Explodes Through $8,700 To Record High: ‘Thanksgiving Table Discussion Was All About Bitcoin’

Well, Bitcoin is on the move - who's surprised? Hilariously, everyone's favorite "currency" that is definitely not a currency has managed to rally above $8,700: As usual, there is no readily discernible catalyst for this, which pretty much by definition means it's pure, unadulterated speculation. "Central banks are working on this issue of crypto currencies very intensively,“ the SNB's Thomas Jordan told an event in Basel on Thursday, before adding that in his view, people should

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12 thoughts on “Bitcoin Explodes Through $8,700 To Record High: ‘Thanksgiving Table Discussion Was All About Bitcoin’

  1. bitcoin is a bubble about as much as the internet in 1992 was a bubble. its profoundly ignorant to say the internet is a bubble, just like its profoundly ignorant to say bitcoin is a bubble.

        1. and what frustrates people about me and Bitcoin is that I have absolutely no shame when it comes to being wrong.

          there’s this tendency for people to say: “oh Heisenberg, but what if you’re wrong? how stupid will you feel?”

          and it’s like: “not stupid at all. i’m wrong all the time. that’s what life is, being wrong and learning from it.”

  2. Heisy, all anyone that’s in “the crypto community” was talking about over thanksgiving dinner was Bitcoin? Ha, what does that even mean? I own a Bitcoin; am I in the crypto community? I’m down in Atlanta, spending time with “normal folk,” and I can guaran-damn-tee you that I didn’t bring up Bitcoin. Not once. Know why? I would end up lecturing for thirty minutes to people with glazed over eyes who wouldn’t be any wiser after I was done. I may be a fool who owns Bitcoin, but I try not to waste my time! Point is, this article is one big over-exaggeration where the only concrete number provided was 13.1 million accounts, which is less than 5% of the US population. We’re still early and nothing has bee. Achieved but massive speculation, but that doesn’t make Bitcoin a bad idea or a fraud.

  3. 13.1 million accounts on coinbase alone, bitcoin float is 16.7 million out of a pre-set total of 21 million. Seems to me the perceived scarcity is going to begin to hit critical mass soon enough. Reminds me of the beanie baby toy craze in the 90s… eventually people realized they were paying up to 4 figures for a sack of beans, then a few months later they were sitting on shelves for a retail value of $3.

    Even if you consider cryptocurrency to be the real deal, there are simply too many alternatives that take up a lot less of your truly fungible dollars and offer arguably better potential reward

    1. Beanie Babies…..LOL. I know a person who has maybe 100 of them in a box in the attic — waiting for the “right amount” to sell them and the longer it takes, the better the money will be….LOL. Meanwhile the moths have almost spilled the beans.

      1. Beanie babies, pogs, pet rocks, tomagotchi, pokemon cards… and bitcoin. No one knows why they want(ed) them, but theyll just buy them anyways. This is a sociological craze, my bartender friend asked me the other day how much she should “invest” in bitcoin. This is the same person who asked me what macroeconomics was. This thing is going down like a led zeppelin. I dont care if its the future, the idea will persevere but the actual bitcoin itself is a replaceable and arguably archaic form of that idea.

  4. People also said Amazon stock was a bubble at $100+ in 1999. Today is it $1100+. Bitcoin today is like Amazon in 1999 – sure the price might be a bit frothy today but in 10 years time it will likely be $100,000 a coin at least.

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